A €100m ($120m) bid by Apax for Ifco Systems and Investcorp's acquisition of Minimax from Barclays Private Equity has breathed life into Germany's struggling buy-out market, taking the tally of deals to five in two weeks.

Ifco Systems, a Munich logistics company, said in its statement to the Frankfurt Stock Exchange: "Funds advised by Apax Partners have made a private purchase offer to several of Ifco Systems' major shareholders with the intention of acquiring a majority stake in Ifco Systems."